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DEED OF TRUST 9 9 1110 8 4 Page 3
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<br /> curing the default so as to bar Lender from any remedy that it otherwise would have had.
<br /> WARRANTY; DEFENSE OF TITLE. The following provisions relating to ownership of the Property are a part of this Deed of Trust:
<br /> Title. Trustor warrants that: (a)Trustor holds good and marketable title of record to the Property in fee simple,free and clear of all liens and
<br /> encumbrances other than those set forth in the Real Property description or in any title insurance policy, title report, or final title opinion
<br /> issued in favor of, and accepted by, Lender in connection with this Deed of Trust,and (b)Trustor has the full right, power,and authority to
<br /> execute and deliver this Deed of Trust to Lender.
<br /> Defense of Titie. Subject to the exception in the paragraph above,Trustor warrants and will forever defend the title to the Property against
<br /> the lawful claims of all persons. In the event any action or proceeding is commenced that questions Trustor's title or the interest of Trustee or
<br /> Lender under this Deed of Trust,Trustor shall defend the action at Trustor's expense. Trustor may be the nominal party in such proceeding,
<br /> but Lender shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of Lender's own choice,and
<br /> Trustor will deliver, or cause to be delivered, to Lender such instruments as Lender may request from time to time to permit such
<br /> participation.
<br /> Compliance With Laws. Trustor warrants that the Property and Trustor's use of the Property complies with all existing applicable laws,
<br /> ordinances,and regulations of governmental authorities.
<br /> Survivai of Promises. All promises, agreements, and statements Trustor has made in this Deed of Trust shall survive the execution and
<br /> delivery of this Deed of Trust,shall be continuing in nature and shall remain in full force and effect until such time as Trustor's Indebtedness
<br /> is paid in fulL :
<br /> CONDEMNATION. The following provisions relating to condemnation proceedings are a part of this Deed of Trust: :
<br /> Proceedings. If any proceeding in condemnation is filed,Trustor shall promptly notify Lender in writing,and Trustor shall promptly take such
<br /> steps as may be necessary to defend the action and obtain the award. Trustor may be the nominal party in such proceeding, but Lender :
<br /> shall be entitled to participate in the proceeding and to be represented in the proceeding by counsel of its own choice, and Trustor will :
<br /> deliver or cause to be delivered to Lender such instruments and documentation as may be requested by Lender from time to time to permit
<br /> such participation. :
<br /> Application of Net Proceeds. If all or any part of the Property is condemned by eminent domain proceedings or by any proceeding or
<br /> purchase in lieu of condemnation,Lender may at its election require that all or any portion of the net proceeds of the award be applied to the
<br /> Indebtedness or the repair or restoration of the Property. The net proceeds of the award shall mean the award after payment of all :
<br /> reasonable costs,expenses,and attorneys'fees incurred by Trustee or Lender in connection with the condemnation. :
<br /> IMPOSITION OF TAXES, FEES AND CHARGES BY GOVERNMENTAL AUTHORITIES. The following provisions relating to govemmental taxes,
<br /> fees and charges are a part of this Deed of Trust: :
<br /> Current Taxes, Fees and Charges. Upon request by Lender,Trustor shall execute such documents in addition to this Deed of Trust and
<br /> take whatever other action is requested by Lender to perfect and continue Lender's lien on the Real Property. Trustor shall reimburse Lender :
<br /> for all taxes, as described below, together with all expenses incurred in recording, perfecting or continuing this Deed of Trust, including :
<br /> without limitation all taxes,fees,documentary stamps,and other charges for recording or registering this Deed of Trust. :
<br /> Taxes. The following shall constitute taxes to which this section applies: (1) a specific tax upon this type of Deed of Trust or upon all or any
<br /> part of the Indebtedness secured by this Deed of Trust; (2) a specific tax on Trustor which Trustor is authorized or required to deduct from :
<br /> payments on the Indebtedness secured by this type of Deed of Trust; (3) a tax on this type of Deed of Trust chargeable against the Lender :
<br /> or the holder of the Note;and (4) a specific tax on all or any portion of the Indebtedness or on payments of principal and interest made by
<br /> Trustor.
<br /> Subsequent Taxes. If any tax to which this section applies is enacted subsequent to the date of this Deed of Trust,this event shall have the
<br /> same effect as an Event of Default, and Lender may exercise any or all of its available remedies for an Event of Default as provided below :
<br /> unless Trustor either (1) pays the tax before it becomes delinquent, or (2) contests the tax as provided above in the Taxes and Liens :
<br /> section and deposits with Lender cash or a sufficient corporate surety bond or other security satisfactory to Lender.
<br /> SECURITY AGREEMENT; FINANCING STATEMENTS. The following provisions relating to this Deed of i rust as a security agreemant are a paK
<br /> of this Deed of Trust:
<br /> Security Agreement. This instrument shall constitute a Security Agreement to the extent any of the Property constitutes fixtures or other
<br /> personal property,and Lender shall have all of the rights of a secured party under the Uniform Commercial Code as amended from time to :
<br /> time.
<br /> Security Interest. Upon request by Lender, Trustor shall execute financing statements and take whatever other action is requested by :
<br /> Lender to perfect and continue lender's security interest in the Personal Property. In addition to recording this Deed of Trust in the real
<br /> property records, Lender may,at any time and without further authorization from Trustor,file executed counterparts,copies or reproductions
<br /> of this Deed of Trust as a financing statement. Trustor shall reimburse Lender for all expenses incurred in perfecting or continuing this
<br /> security interest. Upon default,Trustor shall assemble the Personal Property in a manner and at a place reasonably convenient to Trustor :
<br /> and Lender and make it available to Lender within three(3)days after receipt of written demand from Lender.
<br /> Addresses. The mailing addresses of Trustor(debtor) and Lender (secured party) from which information conceming the security interest
<br /> granted by this Deed of Trust may be obtained (each as required by the Uniform Commercial Code) are as stated on the first page of this :
<br /> Deed of Trust.
<br /> FURTHER ASSURANCES; ATTORNEY-IN-FACT. The following provisions relating to further assurances and attomey-in-fact are a part of this :
<br /> Deed of Trust:
<br /> Further Assurances. At any time,and from time to time, upon request of Lender,Trustor will make,execute and deliver,or will cause to be :
<br /> made, executed or delivered, to Lender or to Lender's designee, and when requested by Lender, cause to be filed, recorded, refiled, or
<br /> rerecorded,as the case may be,at such times and in such offices and places as Lender may deem appropriate,any and all such mortgages,
<br /> deeds of trust, security deeds, security agreements, financing statements, continuation statements, instruments of further assurance,
<br /> certificates, and other documents as may, in the sole opinion of Lender, be necessary or desirable in order to effectuate,complete, perfect, :
<br /> continue, or preserve (1) Trustor's obligations under the Note, this Deed of Trust, and the Related Documents, and (2) the liens and
<br /> security interests created by this Deed of Trust on the Property,whether now owned or hereafter acquired by Trustor. Unless prohibited by
<br /> law or Lender agrees to the contrary in writing, Trustor shall reimburse Lender for all costs and expenses incurred in connection with the
<br /> matters referred to in this paragraph. :
<br /> Attorney-in-Fact. i#T�us!o►fails to do any of!he things refRrred to in the preceding paragraph, Lender may do so for and in the name of
<br /> Trustor and at Trustor's expense. For such purposes, Trustor hereby irrevocably appoints Lender as Trustor's attorney-in-fact for the
<br /> purpose of making, executing, delivering, filing, recording, and doing all other things as may be necessary or desirable, in Lender's sole :
<br /> opinion,to accomplish the matters referred to in the preceding paragraph.
<br /> FULL PERFORMANCE. If Trustor pays all the Indebtedness when due,and otherwise performs all the obligations imposed upon Trustor under
<br /> this Deed of Trust, Lender shall execute and deliver to Trustee a request for full reconveyance and shall execute and deliver to Trustor suitable
<br /> statements of termination of any financing statement on file evidencing Lender's security interest in the Rents and the Personal Property. Any
<br /> reconveyance fee required by law shall be paid by Trustor, if permitted by applicable law.
<br /> EVENTS OF DEFAULT. At Lender's option,Trustor will be in default under this Deed of Trust if any of the following happen:
<br /> Payment Default. Trustor fails to make any payment when due under the Indebtedness.
<br /> Break Other Promises. Trustor breaks any promise made to Lender or fails to perform promptly at the time and strictly in the manner
<br /> provided in this Deed of Trust or in any agreement related to this Deed of Trust.
<br /> Compliance Default. Failure to comply with any other term,obligation,covenant or condition contained in this Deed of Trust,the Note or in
<br /> any of the Related Documents. If such a failure is curable and if Trustor has not been given a notice of a breach of the same provision of this
<br /> Deed of Trust within the preceding twelve(12) months, it may be cured (and no Event of Default will have occurred) if Trustor, after Lender
<br /> sends written notice demanding cure of such failure: (a) cures the failure within twenty (20) days; or (b) if the cure requires more than
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